Mass media giant Time Warner Inc. ( TWX ) on
Wednesday posted better-than-expected third quarter earnings
results, as profit rose despite a drop in revenue.
The New York-based company reported third quarter net income of
$838 million, or 86 cents per share, compared with $822 million, or
78 cents per share, in the year-ago period. Excluding special
items, adjusted profit was 86 cents per share.
Revenue fell 3% from last year to $6.84 billion.
On average, Wall Street analysts expected a smaler profit of 82
cents per share, albeit on slightly higher revenue of $6.89
Time Warner shares were unchanged in premarket trading
The Bottom Line
Shares of Time Warner ( TWX ) have a 2.41%
dividend yield, based on last night's closing stock price of
$43.11. The stock has technical support in the $39-$41 price area.
If the shares can firm up, we see overhead resistance around the
$46-$48 price levels.
Time Warner Inc. ( TWX ) is not recommended
at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well
as a detailed explanation of our ratings system here .